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LAHORE, Oct 18 (APP):Federal Minister for Investment Qaiser Ahmed Sheikh has reaffirmed the government’s resolve to simplify investment procedures and stimulate industrial growth in Pakistan.
He expressed these views during an extensive meeting with Lahore Chamber of Commerce and Industry (LCCI) President Faheem-ur-Rehman Saigol, Senior Vice President Tanveer Ahmed Sheikh, Vice President Khurram Lodhi, former presidents Mian Anjum Nisar and Muhammad Ali Mian, office-bearers, and executive committee members at the LCCI.
Commending the chamber’s contribution, Qaiser Ahmed Sheikh described the Lahore Chamber as “the most vibrant and active business body in Pakistan.” He lauded its proactive efforts to promote trade and industry, assuring the business community that the government is fully committed to addressing their challenges.
The minister informed participants that a Facilitation Center has been established at the Board of Investment (BOI), where representatives from all relevant ministries are available under a one-window operation to ensure swift business approvals and eliminate bureaucratic delays.
“All pending business approvals have now been cleared, and we are working to make investment processes easier and faster than ever before,” he said.
He further announced that new industries set up in economic zones will enjoy 10-year zero-rated import facilities on machinery, making Pakistan more competitive for domestic and foreign investors. He revealed that a 6,000-acre economic zone near Karachi is under rapid development, offering lucrative opportunities in manufacturing, logistics, and exports.
Qaiser Sheikh stated that the government’s foremost priority is to restore business confidence, attract investment, and ensure policy consistency. “We understand that without a thriving private sector, there can be no real economic growth. The government is taking all possible measures to support the business community and bring stability to the investment climate,” he added.
LCCI President Faheem-ur-Rehman Saigol appreciated the minister’s active engagement with the business community and expressed confidence that under his leadership, the Ministry of Investment would play a pivotal role in strengthening public-private partnerships and accelerating industrial expansion.
Saigol highlighted that the cost of doing business in Pakistan has reached unsustainable levels due to high energy tariffs, heavy taxation, and policy uncertainty. “The country cannot afford additional financial burdens. The FBR’s move to post three officials at every business unit will only create unnecessary harassment and discourage legitimate business activity,” he remarked.
He urged the government to include business leaders in all economic decision-making forums, stressing that “the private sector must be treated as a partner, not merely a taxpayer.”
Saigol further proposed that, while attracting foreign investment remains important, equal focus should be given to empowering local entrepreneurs, particularly in the SME sector, to create jobs and foster sustainable economic growth.
“Instead of relying solely on welfare programmes like the Benazir Income Support Programme, the government should promote investment in small and medium enterprises to build a self-reliant economy,” he added.
He said that true economic revival lies in supporting startups, youth-led ventures, and export-oriented industries. The business community, he assured, stands ready to cooperate with the government but seeks stable policies, affordable energy, and rational taxation to remain competitive globally.
Expressing optimism, Saigol said, “We are confident that Minister Qaiser Ahmed Sheikh, being an experienced businessman and former President of the Karachi Chamber, understands our problems better than anyone else. We hope he will personally ensure practical steps to address the challenges faced by the business community.”
Former LCCI President Mian Anjum Nisar also drew attention to the mounting pressures on Pakistan’s industrial sector from rising energy costs, taxation, and policy unpredictability. He urged the government to take immediate corrective measures to restore industrial competitiveness and encourage new investments.
The LCCI senior vice president and vice president reaffirmed their commitment to strengthening public-private dialogue and promoting Pakistan as a business-friendly investment destination.